Biocon, a Rs.2,350 crore plus India's
largest biotechnology company, has posted satisfactory growth in top
line and bottom line during the third quarter ended December 2010. Its
net profit has taken a quantum jumps of 24.6 per cent to Rs.100.75 crore from Rs.80.89 crore in the corresponding period of last year. Its consolidated net sales also increased by 14.6 per cent to Rs.728.05 crore from Rs.635.12 crore. Its pharma sales increased by 14.8 per cent to Rs.649.16 crore and that from CRAMS moved up by 12.1 per cent to Rs.86.81 crore. With improvement in profits, its earnings per share improved to Rs.5.15 from Rs.4.17 in the last period.
Kiran
Mazumdar-Shaw, chairman and managing director, said, “Biocon has
delivered the highest ever PAT this quarter and has crossed the Rs.100
crore mark. The operating margins has also increased to 24 per cent
this quarter reflecting the improved quality of earnings. This marks an
important growth milestone which will enable us to invest in advancing
our research programmes and expand our manufacturing and marketing
partnerships, which we believe, are catalysts of growth for the future.”
For the first nine months ended December 2010, Biocon's consolidated net sales increased by 20.9 per cent to Rs.2069 crore from Rs.1711 crore in the similar period of last year. Its net profit also moved up by 25.4 per cent to Rs.266.71 crore from Rs.212.63 crore.
The
biopharma business posted a 22 per cent growth in revenues in the nine
months of this fiscal on the back of strong growth in the sales of
immunosuppressants, statins and the branded formulations segment. There
has been a significant increase in the sales of both MMF and Tacrolimus
to the US and European markets.
Domestic branded formulations
business achieved growth of 32 per cent. In diabetology, the response of
diabetes specialists to the launch of Insugen 100 i.u. in India has
been very encouraging. This launch will help the division increase its
market share in the human insulin vials space. Overall, the insulin
portfolio has grown by 40 per cent over the last year.
The
company announced a strategic foreign direct investment in Malaysia with
the Malaysian Biotechnology Corporation SdnBhd (Biotech Corp). The
investment will be made towards setting up a bio-manufacturing and
research and development facility in Bio-XCell, a custom-built
biotechnology park and ecosystem in Iskandar Malaysia, Hohor. Biocon is
planning to invest around RM500 million (approximately US$ 161 million)
in the first phase. The project is likely to be operational by 2014.